QRG Capital Management Inc. Has $162.70 Million Holdings in JPMorgan Chase & Co. $JPM

QRG Capital Management Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 561,209 shares of the financial services provider's stock after acquiring an additional 38,718 shares during the period. JPMorgan Chase & Co. comprises about 1.4% of QRG Capital Management Inc.'s investment portfolio, making the stock its 8th biggest holding. QRG Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $162,700,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth approximately $76,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.4%

NYSE:JPM opened at $301.12 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock's fifty day moving average is $301.61 and its two-hundred day moving average is $276.60. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The stock has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $6.12 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JPM shares. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a report on Tuesday, September 23rd. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a research note on Tuesday, September 30th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $313.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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